MUMBAI: Tata AIG General Insurance reported a net profit of Rs 1,008 crore for FY26 despite facing the largest claim in Indian aviation history last year. The company’s books were protected due to its conservative policy of reinsuring the bulk of large risks.The General Insurance Corporation had estimated claims of over $400 million last year from the Air India Ahmedabad crash. Since then, reinsurers have settled some claims. Tata AIG, which was the lead insurer, had a 45% share of the risk. “We fully provided for it in that same quarter itself. Net of reinsurance, our exposure was less than Rs 50 crore,” said Amit Ganorkar, MD & CEO, Tata AIG General.The company’s equity capital and reserves stood at Rs 6,545 crore as of end-March 2026. The total exposure taken by the company was less than 1% of its net worth. However, the claim did impact the company’s solvency ratio by 10 basis points, bringing it to 1.91.Tata AIG is the third-largest private insurer, with a gross premium of Rs 20,749 crore in FY26, and the second-largest private insurer in motor insurance. It is also the second-largest insurer in commercial lines. However, in health insurance, its market share is much lower, ranking eighth among private players.“Health is our fastest-growing segment. Our retail health book is running at approximately Rs 200–250 crore per month, and we are looking to expand. Health premium contribution this year grew at about 22–23 percent,” said Ganorkar. “Our annual GWP last year for health was approximately Rs 4,500 crore, reflecting around 40 percent growth,” he added.“Our target is for health to become 20–23 percent of our overall premium mix, which would bring us in line with the broader industry. We are currently aspiring to be in the top five in health,” said Ganorkar.The company is using technology extensively to improve efficiency in health insurance. “In health, AI is being used to read discharge summaries, predict illness patterns, conduct health assessments through imaging, and provide digital medical second opinions through digital video consultation.”Ganorkar added that within two years, the company expects small-value claims to move to fully AI-generated settlements, with no human intervention required. The company has also launched a cover targeting those with health insurance from employers. For the initial period, the cover acts as a top-up over the employer’s cover and can subsequently be renewed as a comprehensive cover from the base amount.